The Ministry of Transport, Integrity, Nature and Elderly Affairs, together with the Ministry of Economic Affairs, Communication, and Sustainable Development, signed an agreement with Qredits Microfinanciering to launch Agri-Loan.
For farmers, the challenges to starting an agricultural business depend on the climate, land, knowledge, finance, and production cost. Minister Ursell Arends and Minister Geoffrey Wever see the opportunities to elevate the agriculture sector and make this a vital part of our economy as a food and essential product provider for our community. Therefore they developed the Agri-Loan system to address the financial challenges of farmers and provide incentives to contribute to the primary sector step by step.
The Agri-Loan will create a 3 million florins fund for local farmers. This fund provides individual loans of Awg. 5000,- to Awg. 200.000,- at a reduced interest rate of 2%. Qredits Microfinanciering will use Aruba as a model for future projects within the Dutch Kingdom. In addition to Agri-Loan, Qredits has collaborated with the Government of Aruba to launch Agri-Business Academy. The course focuses on business management and financial plans adapted specifically to local farmers. There will be an opportunity for farmers to register for this course.
The Government of Aruba is very grateful to Qredits and the entire team for their collaboration in making these funds available and for contributing to the agriculture sector and our future food safety.
